Title loans in Tempe, AZ offer a unique and convenient way for borrowers to access cash quickly. Unlike other types of unsecured loans, title loans do not require any kind of credit check or qualifying process. Instead, you only need to prove that you own the vehicle that is being used as collateral on the loan. Your credit score is irrelevant when it comes to getting a title loan – as long as you own your car outright and can provide proof of ownership, you will likely be approved for a title loan.
If you are interested in learning more about title loans or need cash quickly, contact us today to learn more about our products and services. We look forward to helping you get the cash that you need today! Car Title Loans Today works with dozens of local lenders near me in Tempe and across the state of Arizona, so we can help you get the financing that you need to cover emergency expenses or deal with unexpected financial challenges.
Requirements For Title Loans In Tempe, AZ
Unlike other types of loans, a title loan in Tempe, AZ requires no credit check and no qualifying process. In fact, the only requirements you will need to meet are fairly simple and most borrowers can qualify for same day approval without much of a credit check as long as they have a few things:
You must own your vehicle outright and the car or truck can’t currently registered under any liens or leases. If you have an outstanding balance on your vehicle’s lien or leaseholder, then we cannot offer a title loan at this time. You must be able to provide proof of ownership for your car or truck.
Some other less common requirements that we see with local lenders in Tempe may include verification of income and proof of residence. Since most title loans are unsecured, we do not require that you provide any collateral to cover the loan in case you cannot make payments on time. However, since these types of loans often carry fairly high interest rates, lenders may choose to verify your ability to pay by requiring your documentation.
If you feel like title lending is the right option for you, then please contact us today! We can help get the cash that you need without having to put up any personal property or deal with credit checks that could lower your score or disqualify you for other forms of lending.. We look forward to working with you!
Loan Amounts And APR For Auto Title Loans In Tempe, Arizona
Title loans in Tempe, Arizona are unique among other kinds of lending products because they allow you to borrow up to the full market value of your vehicle. While some lenders may only offer a small portion of this amount like $1,000 or less for cars that cost less than $5,000, we tend to see title loans in Tempe ranging from as low as $1,000 all the way up to $50,000 depending on your ability to make payments and our lender’s risk assessment.
The APR for any product offered by us will vary based on many different factors such as the initial loan amount and term length. However, most title loans in Tempe can carry APRs starting around 30% and they can go up significantly from there. Because of these high interest rates, we recommend paying back the full amount of your loan as soon as possible rather than waiting for multiple payments to come due. If you feel like you can meet these specific requirements and pay back the loan quickly, then a title loan could be just what you need!
The length of time that it takes to pay back a title loan in Tempe will vary by how much money is borrowed and how often payments are made. Most people who take out loans will make bi-weekly or monthly payments on their loans over a period of several months, but some may choose to extend this by making weekly or even daily payments if they have the ability. Generally speaking, most car title loans are paid off within three months to two years and it makes financial sense to pay off the loan early to save money and avoid getting deeper into debt.
Tempe, AZ Title Loan Restrictions
The state of Arizona has some specific restrictions on the types of lending products that are offered in Tempe, but car title loans and cash advances both exist fairly legally thanks to loopholes that were created by the state legislature. While these laws may have been put in place with good intentions to protect consumers from shady financial practices, they can also limit your ability to get a fair loan. For example, our lenders are prohibited from charging more than $15 per $100 borrowed or 36% APR for any fees associated with your auto title loan whether it is for late payments or administrative costs.
Another key area of concern shown in the law is that these products cannot be offered by a loan broker and they must instead be made through a licensed lender. This requirement means that you will not have to deal with third parties who may try to take advantage of you in order to receive some commission, but it also limits your ability to shop around for the best title loans in Tempe, Arizona. While this regulation is intended to help protect consumers, there may still be many dishonest lenders out there trying new tactics who can still get a license despite their intentions so we encourage anyone looking into these kinds of loans to do careful research ahead of time.
Tempe Location And Finding A Direct Title Loan Lender Near Me
We work with many residents in the Tempe, Arizona area who are looking for title loans for emergencies but also to help them make ends meet. With our direct lending options, we can usually guarantee that the funds will be available within an hour or two after your application has been submitted online so that you don’t have to wait around all day while they process everything.
Once approved, borrowers will come down for a quick inspection at a local office in Tempe, or you can also get this done with a title loan lender in Phoenix. The entire process is simple and we can take your application online and put together a quick calculation and lending estimate within a few hours. So contact us anytime to see how much you can get with a secured loan!
